Pixbet Under Fire in Brazil for Offering Odds on Next Pope
Pixbet’s online betting subsidiary Flabet has come under investigation in Brazil for allowing wagers on the election of the next Pope.
LISTEN TO THIS ARTICLE:The market is seen as a violation of Brazil’s fixed-odds betting law, which confines betting to sports-related events and online games.
Flabet was also found to have offered bets on Canadian elections, adding to its regulatory non-compliance. Under Law No. 14.790/2023, bets on political and religious events are not allowed.
Before the platform removed the market, its betting odds had Cardinal Pietro Parolin as the top contender. Hungarian Cardinal Péter Erdö was listed as a less favored option at 9:1, while other contenders were considered long shots, with odds of around 35:1 or higher. These predictions mirror the trend seen in other papal betting markets.
In an official statement, the Ministry of Finance’s Secretariat of Prizes and Bets (SPA-MF) announced it had launched a formal probe into the breach. The ministry stated that the company would be required to remove all unauthorized betting options, as only sports and online games are allowed.
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Operational Glitch Led to Incident
Addressing the issue, Pixbet explained that the papal betting market was caused by an operational error by its international market provider. The operator stated that the glitch led to the temporary availability of special event betting options, which were promptly removed.
Pixbet stressed that the mistake was “unintentional and non-representative of the company’s compliance policies” and that it is still committed to fully adhering to Brazil’s regulatory framework.
Pixbet finds itself dealing with a fresh regulatory problem just days after it was saved from a 90-day suspension thanks to a federal court ruling. The SPA had suspended the operator and three others for failing to submit necessary certifications on time as stipulated under Article 3 of Normative Ordinance No 2,104.
However, the company filed a writ of mandamus and had its license restored after a federal judge ruled that it could resume operations.
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